Police in Chinese city seize 600 computers used to mine bitcoin

“BEIJING (Reuters) – Police in the north China city of Tianjin confiscated 600 computers used to mine bitcoin cryptocurrency after the local power grid operator reported abnormal electricity usage, Xinhua reported Wednesday” writes Midwest Communications Inc for 95kqds.com. “Eight high-power fans were also seized,” Xinhua said, quoting local police and added that it was the “largest power theft case in recent years.”. Miners use high-powered machines to generate the massive computing power to produce cryptocurrencies, which is done by solving mathematical equations.The activity is also highly energy intensive, leading miners to seek locations with easy access to cheap electricity.